Satisfying the people for any government is always the biggest task for any government in the world. To satisfying their people, the governments ready to implement new schemes and rules which are very helpful for them. Actually, they show full interest in placating the employees for their needs. And to give security to their life the Indian government introduced the Employee’s Provident Fund (EPF) and its miscellaneous Provisions Act in 1952 under the Ministry of Labour and Employment. This EPF is defiantly the finest fruit for all the employees who are applicable for this service. The last EPF interest rate was announced by the Honourable Minister of Labour & Employment Shri. B Dattatreya garu in the 2017-18 F.Y i.e., 8.55%.
How EPF Interest Rate changing Works?
Each and every month, there is 12% deduction from employee salary until he/she left the company, and at the same time, their employer also contributes the same 12% amount of their employee salaries to employees’ individual EPF account monthly. This amount deposited in the employee EPFO account, which is maintained and monitored by the Ministry of Labour and Employment, Govt. of India. And now, the government offering interest on EPF is 8.55%. So, each employees EPF amount is increased by 8.55% rate of interest per yearly.
Assume, at age of 23 an employee A starts his job with 30000 in Company A, and both are contributing the 12% amount towards employee EPF account until the employee reaches the age 62(It’s the retirement age in India now).
12% of 30000INR is 3600 INR
3600 * 12 = 43200 INR
For 1 year the employee EPF balance will be 43200 + 3693 = 46893 INR
For age up to 62 of employee, 46893*39 = 18,28,827 INR
(Note: If the Government increases the EPF interest rate above 8.55% the final amount will be increase.)
The above example is if, we take the present 2017-18 EPF interest rates.
Historical EPF Interest Rates on Provident by the Indian Government:
As in the starting days, i.e. in the era of 1952-1955, the initial EPF interest rate was only 3%. Later the days go on, the government’s changes and this EPF interest rates also change gradually from 3 to 12%. And there is a decrement in 12% interest rates to 8.55% till now.
The EPF interest rate is reviewed by EPFO’s Central Board of Trustee after consultation with the Ministry of Finance. The highest EPF interest rate was given in the time of 2000-2001. And, then gradually there was a decrement in that interest rate. In 1978-1979 time frame, the government offered 0.5%bonus those who didn’t withdraw any amount from their PF during 1976-1977 & 1977-1978. And in the year of 2004-2005, the government offers 0.5% bonus due to the Golden Jubilee celebration of freedom.
If the government announces, there is an increment in EPF interest rate, that obviously they gain the love of all the employees who come under the EPF scheme. So, the government always remembers this matter. Previously there was a rule, not withdraw the PF amount from their EPF account until the employee retirement time. Later, the government has taken some consideration and requests from the people and they slightly change the withdraw rules and conditions.
Present, the employer can not withdraw their PF amount from their EPF account for 5 years. Or if the person loses his job unfortunately and within 60 days if the person fails to get another job, in those situations, he/she can withdraw their full PF amount from their EPF account.
If the employee having any emergency like marriage, educational debts, real estate purchases etc. In these situations, the employee can withdraw 50% of the PF amount from their EPF account.
But keeping in the PF amount in the EPF account gives you interest and later at the time retirement age, this PF amount will become huge as per the EPF interest rate at that time. So, the government and all other officials suggest not withdrawing their PF amount until its big emergency need.
Check the last five financial years EPF interest rates here:
2017-18 the EPF interest rate was 8.55%
2016-17 the EPF interest rate was 8.65%
2015-16 the EPF interest rate was 8.80%
2013-15 the EPF interest rate was 8.75%
2012-13 the EPF interest rate was 8.50%.
this is Nishan from kerala . can you please tel me the provident found interest rates of this year ? Please kindly give me reply .
hello sir …, This a nice website to know the pf information , Please clarify my doubght present I’m resigned my job interest can carry on my provident found amount r not please kindly tel me ?
how to get info about my pf balance rate of interest and how to know that how much interest is adding in my account
My name is Nirupam , I belong to Vijayawada district . Im doing job in a private company from 1 year , so can you please tel me how to calculate my pf amount ?
as per new policy by Central government what is the interest rate for the year 2019-20 applicable and can i identify in my account or not tell me sir
can you please update the current epf amount interest rates ? Please quickly give me reply sir ?
hello sir.., I recently quit my job . I had worked that company almost 2 years , my salary is 17000 per month please tel me i am not sure how much interest i will gain for pf amount ?
I’m having pf account and 3 years of pf balance is withdraw from my account and is it any problem to get interest by withdrawal
I’m sowjanya i just joined the company can you please tel me how to generate the epf account please advice me sir ? I’m eargly waiting for your reply .
I’m doing job past 1 year and now i left the company and joined in New one here they can given me a new account can i link the two accounts
How can i withdraw my account without cutting if rate of interest and what is the way can you explain
what are the various ways to check interest rates for my epf account and where is the option available
sir ….., unfortunately I loosed my job from 1 month ago , and also present i did not get the any job . So I’m interested to withdraw my pf amount kindly tel me what is the process ?
how the epfo calculate the interest on pf balance while I’m checking there is no information found this much of rate of interest is applicable in my account
is pf amount is withdrawal after 3 years and is there any conditions are applicable for avail interest rate can you suggest me withdrawal is ok not advisable
I was opened epf webportal after I entered my UAN number to check my pf interest rates but it was not showing the interests I’m getting errors please resolve the problem .
what is the rate if interest applicable in government for employees and how can I get information on this
want to know the information about pf withdrawl , How many days it will take to get PF balence after applying online? Please kindly provide the information .
hello sir …,. I’m checking the pf amount withdrawl process in online on that time I have seened the form 19 and 10 c forms . Can u please explain the that forms details ? Thank you
For private employees also epfo organization apply the same interest rates or else any difference is there
I’m withdrawing my pf balance 1 time for a occasion and it we withdraw pf account is it any loss to get epf interest
hello sir recently i heard a news our government increased the epf interest rates is it true if yes how much they increased
I’m generated the pf account on that time by mistakenly I entered the incoorect bank details now I want change my bank details where can I go to change sir please kindly provide the information ?
I’m Lakshmana from rayadurgh when we are maintaining the pf account without withdrawal after 10 years how much money we will get
when can i withdraw my pf balance with interest after 5 years is it ok or need to wait for some more time
good morning sir …, i resigned my previous job last year. About 3 months ago, I submitted my PF withdrawal form but still it was showing under processing please help me sir how to get my pf balence .
such a good website about epf information . sir…, My father is suffering from cancer . So I want to withdrawal Partial amount For Medical Treatment , is it possible r not please guide me sir .
while epf organization providing interest on pf balance is it good for employment and very interesting thing
Please give me suggestions sir
this is praneetha . I already applied the provident found withdrawl form 1 month back in online but till it’s showing under processing how much time it requires to amount get credited in my account please clearly provide the information . Eargarly I’m waiting .
what is the interest rate as per epfo for my account I’m using the pf account past 10 years how can i check my account is added with interest money by epfo organization
nice information thanks for admin . I would like to know onething please tel me What is the basic salary limit to get provident found ? Plz give me reply
my name is susanth from Mumbai . I’m new in job , can you please suggest How to Calculate the Interest on EPF please tel me the total process step by step ? Please any one can give me reply .
How the epfo organization can added the interest rate to epf account balance and how can we know that rate of interest please as soon as possible if possible send me mail
this is Madura from Delhi . Really Good website sir , please tel me how to register my UAN number in online portal please give me reply ?
After withdraw my money from pf account how can it will be calculated based on interest rate can i know the information on this please provide as soon as possible thank you
Can you please tel me any changes about pf interests rates for 2018 to 2019 year ? Kindly provide the information . Thaks in advance
I’m Upasana Chowdary I belongs to rajastan . Can u please clarify my doubght the Employees’ Provident Fund Organization in which bases they can providing pf interest for employers please tel me
this is Kumari from vizag . In few months ago I left my job and I recently joined the new company how to transfer my epf amount from old organization to new one please guide me sir .
Dear admin i have a query how to know that pf account is added with interest with money provided by epfo organization and is there any option to know how much money added in my account
After seeing news on epf interest rate i checked my account the is no interest added in my account past 5 years why this happens can you tell me any reason for this thing
Sir the epfo organization is not doing their correct job because while I’m checking it with my account the know fact is there is no money adding for this epfo why introduce interest on pf money
I have a doubt for epfo account interest is adding in every account who is having pf account with uan activation they only get the interest amount or everyone get it please clarify sir
How can i know that they are adding money to account there is no notification and no mail regarding this thing good can we know this one please correct me if I’m wrong thank you